19/19 life insurance companies have reviewed their operations.

(Dan Sinh) - According to information from the Vietnam Insurance Association, up to now, 19/19, 100% of life insurance companies have sent reports to the Insurance Supervision and Management Department on the results of reviewing insurance agency contracts and strengthening control of agents' activities, improving customer service quality.

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Accordingly, in order to continue to strengthen the control of the quality of insurance agent activities and ensure compliance with the provisions of the Law on Insurance Business, enterprises have reviewed insurance agency contracts signed with organizations and individuals, ensuring that authorized agency activities in the contracts comply with the provisions of Clause 5, Article 4 of the Law on Insurance Business.

Insurance companies have reviewed and controlled the activities of insurance agency organizations to ensure compliance with the provisions of Clause 2, Article 125 of the Law on Insurance Business. In particular, special attention is paid to the condition that insurance agency organizations must have employees directly performing insurance agency activities that meet the prescribed conditions.

In addition, businesses also continuously check and monitor the implementation of insurance agency contracts, evaluate the quality of consulting and introducing insurance products of employees in the agency organization according to regulations. At the same time, review, organize training and update knowledge for employees directly performing activities at insurance agencies according to the provisions of the Law on Insurance Business.

In order to make the insurance market transparent, the Insurance Association and businesses are focusing on implementing specific solutions such as: Reviewing the overall sales process, customer service process, and insurance agency contracts to ensure compliance with legal regulations. Improving the quality of new exploitation activities, including: Welcome call script before issuing contracts; Re-checking to verify that customers have been properly advised on insurance products, the quality of the agent, reminding customers to study the insurance contract and the 21-day consideration period. In case customers reflect that they are unclear about the content of the insurance contract, the insurance company will send employees or agents to re-consult on the insurance contract. The results of the re-consultation must be recorded or recorded in writing (with the customer's signature). These documents will be kept at the company.

For the appraisal process to issue contracts for investment-linked insurance products or for insurance products with large insurance amounts, there must be a step to check between the information declared by the customer regarding financial status, risk tolerance, insurance needs in accordance with the insurance premium level, benefits proposed in the insurance contract. Publicize a hotline to support answering questions and receiving complaints from customers purchasing insurance.

In addition, the Association and insurance companies have reviewed all insurance agent training; provided supplementary training and updated appropriate knowledge for insurance agents that the companies have trained online in the recent period. At the same time, they have strengthened and supplemented sanctions against violating insurance agents; and proactively provided objective and truthful relevant information.

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